Broadway manse becomes 3rd most expensive SF property sold

Sitting on Broadway in San Francisco, otherwise known as the Gold Coast and Billionaires Row, 2901 Broadway has closed escrow for $28,850,000 which goes down in the record books as the third most expensive real estate transaction in San Francisco history.

While the sale price puts it in the record books, it doesn’t come close to the original asking price of $58 million, when it first came onto the market in 2006. Six years and several price deductions later, the 8-bed, 7.5-bath mansion is finally exchanging hands.

The Italian Renaissance estate with panoramic views has been vacant for a while – even becoming the target of some graffiti vandals not too long ago.

The property has also been in the same family for quite some time. Property tax records show only $7,900 was paid to the city last year. The city can expect to receive at least $300,000 more annually going forward.